Goldman Sachs

The postponed listing of the We Company, owner of office provider WeWork, shows that IPO investors are disciplined in their search for growth stories. Banks should recalibrate their relationships with private capital providers, says David Rothnie.

General Electric has announced the early bird results of a multibillion dollar and euro bond buyback and cut the offer period after a huge response from early deadline investors.

HSBC has finalised its new corporate broking line-up, after a review conducted by its chief financial officer Ewen Stevenson. It has hired Morgan Stanley and Bank of America Merrill Lynch as brokers, replacing Goldman Sachs and Credit Suisse.

Nasdaq-listed Pinduoduo became the latest in a growing line of Chinese companies to tap the US convertible bond market, pocketing $875m after pricing its debut issuance at the tight end of guidance.

One of China’s largest oil companies, Cnooc came to the market with a $1.5bn dual-tranche deal, giving investors a chance to buy into a single-A rated state-owned name.

Samhi Hotels is planning a mixed primary and secondary listing, expected to raise around Rp20bn ($280m), said a source familiar with the matter.

Europe’s high grade corporate bond market maintained its steady flow of new issues on Wednesday, with Infineon Technologies heading into the euro market for a dual tranche hybrid, while BMW drove by in sterling and more names populated the pipeline.

The struggling carmaker issued $150m of senior secured notes in a private placement priced at steep 12%, hiking up its leverage ratio. S&P showed no mercy and instantly cut Aston Martin’s credit rating to CCC+ from B-, leaving the firm on outlook negative. The company is betting its future on the risky launch of a family-friendly luxury SUV.

Islamic Development Bank on Wednesday priced a five year sukuk bond, coming to market alongside Samba, a Saudi Arabia based bank. The deals are the latest in a flood of Middle East issuance that has raised $13.35bn this week alone.

Nasdaq-listed Chinese company Pinduoduo has printed its debut convertible bond at the tight end of price guidance, pocketing $875m.

The US’s Thermo Fisher Scientific had a barnstorming outing in the euro bond market on Tuesday, raising hopes that fears of an oversaturated market were overblown.

French agency SNCF Réseau steamed on to screens on Tuesday with initial pricing thoughts for a tap of its December 2047 green bond.